3681 Cranford Ave
riverside, CA 92507US$16,995,000
- Contract signed
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$600,000 Price Reduction. Day one 6.10% CAP Rate & 9.4 GRM. Built in 1964, The University Gardens consist of approximately
67,202 of rentable square feet and is in good condition
since the current ownership has made several recent
renovations to the interiors & exteriors.
The unit mix consists of 2 Bedroom, 1
Bedroom & Studio units. The property is situated
on approximately 3 acres of land that includes tuck
under parking, carports, open on-site parking
in addition to street parking. The property is
also separately metered for gas and electric with
a community laundry rooms, pools & rental office.
Select units have been tastefully remodeled with
new flooring, windows, cabinets, stove, microwave,
countertops, sink, toilet, vanity, shower, AC, recessed
lighting & ceiling fans throughout. Most of the
“heavy lifting” is almost complete and should appeal to
an investor looking for an asset surrounded
by tremendous job opportunity and 10% realistic
rental upside. Priced way below replacement cost
(under $253 per foot) & less than 1.5 miles from 91 and 215 freeways. Earthquake retrofit and seismic upgrades have been made & all newer roofs and rain gutters.
Details
67,202 Sq Ft
2.99 Private Acres Lot Size
apartment
Built in 1965
MLS/Listing ID OC26004201
88 Units
Amenities & Features
Community - Foothills
Community - Biking
Public Sewer
Public Water
Pool - Community
Parking - Assigned
Common Area
Cooling - Wall/window unit(s)
Community Pool
Based on information from California Regional Multiple Listing Service, Inc. and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.